Global investors pour into money market funds amid market volatility

Global investors funnelled substantial amounts into money market funds in the seven days to Aug. 7 as they rushed for safety amid a surge in market volatility triggered by fears of a U.S. slowdown and a strengthening yen that prompted unwinding of carry trades.

According to LSEG data, investors purchased a hefty $98.58 billion worth of global money market funds during the week – their largest weekly net purchase since April 3.